Upland Resources Ltd - London-based oil and gas company, which has assets in Malaysia, Tunisia and the UK North Sea - Signs specific letter of intent for the provision of a new generation drilling rig with partner Huisman Geo. ‘Huisman bring extensive experience in new generation onshore drilling, complementing our team as we complete the next steps,’ Upland says. Huisman Geo has been active in the geothermal sector since 2009. Upland Chair Bolhassan Di says: ‘Following a fruitful week spent in Sarawak finessing the procurement routes & frameworks with Petros, focus is now set on drill preparations, well design and land preparation. We have made tangible progress and laid strong foundations towards our intended drill campaign. We look forward to increased market engagement as we continue to scale up operations on block SK334 in Sarawak.’
Current stock price: 4.30 pence, up 7.5% on Friday
12-month change: up sharply from 0.48p at December 15, 2022
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